Car insurance should be voluntary and if you choose to not be covered then you carry the costs. Car insurance pricing has gone through the roof and it is my most expensive bill after rent even though I have the lowest amount of coverage that’s required for my state, a clean driving record, my car is paid for, I’ve never had a ticket or took out a claim, and I drive the safest car out there according to data. My insurance premium has tripled in the last 2 years even though nothing has changed. If I did a rough estimate on what I’ve paid in car insurance it is well over $60,000 and that’s just for liability and not comprehensive coverage meaning if I wreak my car I receive nothing towards repair of my vehicle. Some will argue that it’s required to cover property or medical bills if I wreak but the most my insurance will pay is $15,000 towards a claim also how come my renters insurance is $12 a month and my lowest liability car insurance is $150 a month ($315 before I paid my car off) yet the cost to repair or replace a home is a significantly more than it is to replace a car.
SUDE NOTE THAT SHOULD BE MENTIONED: I’ve never been in trouble before in my life but 8 years ago I was pulled over and arrested for a suspended tag and I didnt know why it was suspended until I later learned that 3 year prior to that my car insurance had lapsed for 2 days so the state had mailed me a fine to my old address. As you can guess I didn’t receive it and I had no idea at the time you could be fined for this. So as a result I was pulled over, arrested, had to call someone to pick up my child on the side of the road, fingerprinted, put in a cell, spent the whole day figuring out how to come up with bail bond money to get out, then had to find money to get my car out of impound, I had my mugshot put in the local newspaper like a criminal, and I had to go to court and pay an additional fine on top of the original fine all because my car insurance lapsed for 2 days 3 years prior. So essentially I was jailed, humiliated, and required to pay over $2,500 for being too poor to pay my bill on time. I don’t think rich people understand just how much money it costs people to be poor in this country.
The issue I see with this is if you hurt somebody and they have medical bills. How would you pay for that if you didn’t have insurance? Medical bills can be 10’s of thousands of dollars.
True but the amount we’re paying on a hypothetical thing that may or may not happen is too much. As I’ve said I’ve paid for car insurance every month since I was 16. If I just went off the cheapest my insurance has ever been then ive paid over $60,000 into insurance although if I hurt someone the most my insurance would give them to cover their medical bills is $15,000. So at this point I’ve already covered the medical expenses over 4 times and then there’s still the chance that it will never be paid at all. So if not ban car insurance at least regulate the price.
I disagree. If you get in an accident caused by someone that is uninsured or is a hit and run, you have to pay the deductible. If anything that is what needs to be eliminated.
The real problem is that insurances is FORCED upon the people. We have no say in what we pay. And we are required to pay for the insurance no matter what it costs us. Sure we can search around for it but considering they all share information, they can see what you were paying and only charge slightly less- until renewal. The insurance industry is a racket. It’s about how much they can collect from you and then not pay for any damage. The price continues to rise no matter what. And somebody needs to explain what credit ratings have to do with how much one pays for insurance??? It’s required by law so people on hard times are FORCED to pay HIGHER premiums just because they may not be able to pay bills promptly? It’s an in your face affront! If they owed you money, do you really think they will refund it same day? Nope. You ( peons that we all are) must wait for it- because it’s just too difficult to click that button for a refund… but it’s real easy for us to pay them on our phones or computers. It’s basically a legal system of theft for those with no tickets, accidents or claims. Health insurance is the same way.
